Is a research university right for me?–

Research universities are colleges and universities whose faculty are active in research and publishing. Research universities offer a wide array of doctoral programs, especially in the sciences. They tend to be big, with tens of thousands of students. Do you prefer a larger university setting, such as largest public university in your state? Research universities are typically big, offering degrees in many different disciplines. Is a big high-powered research environment the thing for you? If not, you should think about a liberal arts college. In deciding on an undergraduate institution, ask yourself what sort of environment will best help you to be happy and excel. Consider whether you are self motivated enough to be a face in the crowd for some classes and largely unknown on campus at a large university. Of course you can find clubs and friends at a large university, but often liberal arts colleges have a more personal quality to them. If you want the community feel, a research university may not fit you well. Are you interested in STEM fields? Research universities have that name for a reason – real research is happening there. This can create an exciting atmosphere for students interested in STEM. Attending a research university can give you a better chance of getting into better programs for graduate degrees, although a lot of that depends on your performance.

Is an online college right for me?–

Online colleges are typically the same colleges and universities you could attend in-person, but for certain degree programs the college or unviersity has made the degree programs available to be completed online. For over 5 million students, online degree programs allow students to earn their degrees in the most flexible format available. Online degrees are as respected as the on-campus degrees you could earn from the same schools. There’s usually no distinction between the two degrees, and your degree and transcript will not say that the degree was earned online. Online degree programs are offered by a vast majority of colleges and universities, and the number of offering continues to grow. Whether you are searching for an associate, bachelor’s, master’s, or doctorate, there’s a good chance you can earn your degree online from a respectable online college. Are you a self-driven student? Perhaps the hardest aspect of obtaining an online degree is whether you will be disciplined enough to manage your time and course demands. Many online students report that online college made them more disciplined in all areas of their lives, but the flexible, self-paced learning that makes online colleges attractive can often be the same qualities that make it difficult. If you tend to be a procrastinator, you need to be honest with yourself. You can change your habits and propensities, or you can throw money down the drain. Do you need the flexibility of an online degree program? Most online students study online because of time demands of balancing work and life, or because the online college affords them the chance to attend a better school without moving. If you are serious about earning your degree for career advancement, online colleges make it possible. The most flexible options among online degrees are those that are asynchronous, meaning you don’t have scheduled times to meet with your class online. However, many students seek synchronous online degree programs so that they have some structure – set meeting times, scheduled exams, etc. The good news is that attending an online college doesn’t mean you will miss out on getting to know your professors and classmates. In fact, many online students who have experienced both online and on-campus courses report having easier access to their professors. Since most communication with your professor is expected to be in text – via email or your class learning management system – it makes asking your questions easier. The same students also report that they got to better know the thoughts of their classmates. While in-person course conversations can be dominated by a few extroverts, online courses that require online discussions make it so that you see all of your classmates’ thoughts and questions. If you’re interested in an online bachelor’s degree, check out what the best online colleges offer, or search our online degrees for the exact program that interests you. In either case, you will find well respected colleges and universities that offer online degrees.

Best Liberal Arts Colleges for Economics Degree

Q: Is a liberal arts college right for me?–

Often referred to as “teaching colleges” liberal arts colleges put a premium on undergraduate studies and offers a broad range of subjects for students to study. A college of liberal arts typically provides smaller class sizes, more direct engagement with professors, and, most importantly, the opportunity to sample a wide range of subject areas on the way to a bachelor’s degree. Do you want your professors to know you? Liberal arts colleges strive to cultivate campus cultures that encourage tight bonds between professors and students. Professors at these schools will typically conduct original research. Yet the best of these schools offer their faculty reduced teaching loads so that they can both be productive researchers and still have plenty of time for students (both in and outside the classroom). Do you want to feel like you know everybody? One of the most enticing features of a liberal arts college is that in very little time, you can feel like you know who’s who, which can create strong friendships and make walks across campus more fun. While your sports teams may never be on ESPN, it’s more likely that you’ll know the athletes as your peers. Beyond student and faculty relationships, it’s not unusual for the school president and other administrators to learn who you are. When faced with problems with your student account or the need to switch classes, this can be comforting during a stressful moment.

Badge for BEST FOR ECONOMICS DEGREE LIBERAL ARTS COLLEGES

By Dr. James Barham
Reviewed By Jenn Finley

Published: Nov 5, 2021
Updated: Oct 3, 2024

Key Takeaways

An economics major at a liberal arts college will acquire a comprehensive education covering how people behave and how economic forces are related.
Econ majors in liberal arts colleges will be better equipped with the skills and knowledge valuable to today’s employers.
The smallest liberal arts college for an economics major is Claremont Mckenna College, while the biggest is Bucknell University.

Table of Contents

Top 10 Liberal Arts Colleges Economics Programs in 2025

Wesleyan University
+4
Amherst College
Swarthmore College
–2
United States Military Academy
+8
Williams College
–2
Smith College
+18
Oberlin College
+10
Wellesley College
–2
Barnard College
+1
United States Naval Academy
+8

2025 Ranking Update

Our Influence Ranking Engine™ leverages machine learning to track the real-world influence of colleges and universities over time. Below you’ll see which schools gained or lost ground for the 2025 school year.

The United States Military Academy gained 8 positions to move up to the number 4 position in our 2025 ranking of the Best Liberal Arts Colleges for Economics degrees. Oberlin College was also our biggest mover, gaining 10 positions to move into the 7th position.

The US Military Academy has added new courses that focus on data analytics, financial markets, and the global economy, offering cadets a more comprehensive understanding of both theoretical and practical economics.

Oberlin College has made several improvements to its economics program for the 2025 school year. The department has introduced new courses focusing on sustainability and environmental economics, reflecting a growing interest in the intersection of economics and climate change.

Featured Programs

What’s An Economics Degree Worth?

One of those technical, mathematically oriented fields of study that always surprises people for being a particularly strong fit for liberal arts colleges is economics. Some people don’t realize how a liberal arts background contributes to an economist’s success.

You can view and analyze the world and its economies and the actions of people and organizations within them through a new and more potent lens if you study economics in a liberal arts college.

Significant Benefits of Studying Economics at Liberal Arts Colleges

You’ll have the best of both worlds

You will have more personalized attention and be equipped with skills and knowledge valuable in today’s job market.

A research university, whether public or private, will typically emphasize empirical economics, econometrics, forecasting, and fields where economics and financial markets intersect.

In contrast, an economics major at a liberal arts college will expose you to various topics by mixing several areas of study with your core courses. This encourages you to think critically and develop novel solutions, which are talents that top companies highly appreciate.

As an economics major with a liberal arts education background, you’ll be able to:

Have the ability to explore environmental economics firsthand and learn how it relates to your experiences.
Have the ability to step back to consider how the larger economy and business connect all individual lives.
Have a better foundation in mathematics, writing and composition, and humanities and social studies.

You learn from excellent professors

An economics degree is not as easy as you think, especially if you’re starting to explore the subject. You’ll need as much attention and guidance as you can get from your faculty advisor.

Many courses are taught by teaching assistants at larger colleges, who are often graduate students with little prior teaching experience.

Classes in liberal arts colleges frequently have fewer students because the size of the schools is smaller. Each class is typically taught by a professor, which gives them a chance to spend more time getting to know their students, reviewing, and critiquing their work in much greater detail, and acting as mentors. These benefits will help you prepare for grad school.

You can thoroughly prepare for your career

Liberal arts college teaches you more than just the current social issues, quantitative economics, macroeconomics, political science, and other core parts of an econ major. Economics majors at liberal arts colleges develop strong communication and critical-thinking skills thanks to the breadth of disciplines they study, equipping them with a range of skills for the rest of their careers.

This prepares graduates for occupations that are in demand today and careers that do not yet exist. They also develop excellent interpersonal skills by collaborating with their teachers on research and small group projects.

How do we determine the best economics liberal arts colleges?

Methodology

The people affiliated with a school are ultimately what make it great. This is why we rank the best colleges and universities based on what we call “Influence”.

The influence of a college or university is based on the schools’s top academic influencers related to the discipline in this ranking. We track the influence of faculty and alumni affiliate with these school counting not only the publications and citations of the school’s affiliated people, but we also consider the overall web presence of the faculty and alumni. The greater the citations, authority of web links, web searches, and page views, the greater the individuals’s influence. Those combined make up the departments’s influence in the field of study. We believe tracking the academic influence of the people affiliated with a school is the best indicator of academic excellence.

If you are serious about finding the best colleges and universities, you should be asking where the most influential professors are teaching, and whether their graduates themselves are advancing the school’s reputation for academic excellence. Most ranking sites rely on an opaque combination of reputation surveys and misused performance metrics. Influence, as measured by our InfluenceRanking engine, provides a ranking that is more insulated from manipulation, and more reflective of real-world educational outcomes.

Best Liberal Arts Colleges for Economics Degree

Career Outlook for Students with Economics Degree

Go to Degree Finder tool

Economics

Degree Level: Bachelor's

Location: The U.S. (Private Schools)
Avg. Cost of Degree*: $12,136
Avg. Expenses*: $18,134
Avg. Starting Salary*: $48,072
Avg. Salary after 4 Years*: $63,272
Avg. Cost Recoup Time**: 10 years
Job Growth: 2.90%
Number of Jobs: 2,434,100
* denotes ‘annually’
** denotes ‘at 15% of annual salary’

Career Salaries

Career	Job Growth	Avg. Salary
Managers, All Other	5.75%	$133,560
Economists	5.14%	$115,730
Economics Teachers, Postsecondary	3.23%	$115,300
Data Scientists	36.03%	$108,020
Statisticians	11.73%	$104,110
Market Research Analysts and Marketing Specialists	8.29%	$74,680
Secondary School Teachers, Except Special and Career/Technical Education	-0.64%	$65,220
Survey Researchers	No data	$60,960
Social Science Research Assistants	6.40%	$56,400

Top Industries

Industry	Avg. Salary
Managers, All Other	$133,560
Economists	$115,730
Economics Teachers, Postsecondary	$115,300
Data Scientists	$108,020
Statisticians	$104,110
Market Research Analysts and Marketing Specialists	$74,680
Secondary School Teachers, Except Special and Career/Technical Education	$65,220
Survey Researchers	$60,960
Social Science Research Assistants	$56,400

Data from The Bureau of Labor Statistics, The Department of Education College Scorecard, The Department of Education NCES, and The Council for Community and Economic Research.

Quick Statistics And Facts About The Best Liberal Arts Colleges for Economics Degree

Size and Location

Research universities tend to be far more extensive than liberal arts institutions, which frequently have less than 3,000 students. Many are located in towns essentially defined by the college itself, whether suburban or rural.

The least populated liberal arts colleges include:

Claremont Mckenna College (1,420)
Haverford College (1,435)
Swarthmore College (1,689)
Pomona College (1,747)
Amherst College (1,970)
Davidson College (1,973)

The largest liberal arts colleges student bodies include:

Bucknell University (3,812)
Colgate University (3,219)
Colby College (2,200)
Williams College (2,121)
Bowdoin College (2,012)

Diversity

Occasionally, these campuses are less diverse than those of more prominent colleges. Students typically have more money and are also more liberal. Even if a liberal arts college is as diverse as its research university equivalent, it could feel less varied due to the fact that there are fewer students overall.

Five of the most diverse liberal arts colleges include:

Pomona College
Swarthmore College
Amherst College
Claremont McKenna College
Haverford College

Class Bonding

These schools tend to be community-driven; therefore, shared experiences are emphasized. Most students share the same residence halls on campus. They attend the same classes taught by the same instructors, partake in the same customs, and have meals together.

This may sound similar to students who attended small high schools, especially boarding institutions, given the size and lack of diversity of the student bodies at liberal arts colleges.

An Economics Degree as a Starting Point for a Career

A bachelor’s degree in economics is an excellent starting point for a career in finance, policy development, marketing, and a host of other highly lucrative fields. As an economics major, you’ll study production, consumption, wealth transfer, and the way these activities relate to policy and governance. Your economics degree will also incorporate such core principles of monetary policy, budget planning, and cost analysis. The best schools for economics are those which are regionally accredited, which offer a full array of economics concentrations, and which give you the chance to work with the best and most influential professors and classmates.

Degree popularity: Economics bachelor’s degrees are the 35th most popular undergraduate degrees across all student demographics. It’s most popular among Asian Americans and Pacific Islanders men and women, for whom it ranks as the 17th most desired degree, according to the number of degree earners reported by the National Center for Educational Statistics

Frequently Asked Questions About Economics Bachelor’s Degrees

Earning a bachelor’s degree in economics can open numerous professional doors. You could work as an internal financial consultant for a big company, as a stock trade for a brokerage firm, or as an analyst for a government think tank. In fact, the skills and knowledge you’ll acquire in your degree program are highly transferable. This means that your understanding of concepts such as local market behavior, small business enterprising, and investment banking could land you a role in any sector that interests you. The best schools for economics will put you in a position to become a leader in an array of fast-paced and well-paying fields.

Today, top influencers in economics are illuminating topics such as new economic geography, information asymmetry theory, wealth and income inequality, and much more.

Economics is an excellent major because it can provide a pathway into countless fields and career opportunities. If you’re looking for a well-paying and secure job, an economics degree is a great place to start. Students who major in economics gain skills that are in high demand across a wide range of professional sectors. Abilities such as budget analysis, cost estimation, and market analysis make economics majors highly employable. According to the Bureau of Labor Statistics (BLS), the number of job opportunities for economists is expected to grow by a robust 14% by 2029.

Once you’ve declared your major in economics, you will likely be required to complete a set of core courses in a number of related subject areas. While your concentration will give you a chance to choose from a wide range of highly-specialized economics electives, there are a number of common courses that most economics majors will be required to take, including:

Principles of Economics
Money and Banking
Economics of Healthcare
Globalization
Econometrics
Labor Studies
Economics and the Developing Sphere
Gender and Economy
Financial Markets
Sustainability and Development

Earning a degree in economics can qualify you for a number of well-paying jobs. Your specialized knowledge qualifies you to work in one of the better-paying professional fields. According to the BLS, financial analysts earned a median salary of $81,590 in 2019, while personal financial advisors earned $87,850, and economists pulled in $105,020.

With a degree in economics, you’ll have a chance to pursue an array of high-paying opportunities, including these top jobs:

Frequently Asked Questions About Research Universities, Liberal Arts Colleges, Online Colleges

In pursuing a bachelor’s degree, you will need to choose between three kinds of schools: research universities, liberal arts colleges, and online colleges.

Research universities are colleges and universities whose faculty are active in research and publishing. Research universities offer a wide array of doctoral programs, especially in the sciences. They tend to be big, with tens of thousands of students.

Do you prefer a larger university setting, such as largest public university in your state? Research universities are typically big, offering degrees in many different disciplines.

Is a big high-powered research environment the thing for you? If not, you should think about a liberal arts college. In deciding on an undergraduate institution, ask yourself what sort of environment will best help you to be happy and excel.

Consider whether you are self motivated enough to be a face in the crowd for some classes and largely unknown on campus at a large university. Of course you can find clubs and friends at a large university, but often liberal arts colleges have a more personal quality to them. If you want the community feel, a research university may not fit you well.
Are you interested in STEM fields? Research universities have that name for a reason – real research is happening there. This can create an exciting atmosphere for students interested in STEM. Attending a research university can give you a better chance of getting into better programs for graduate degrees, although a lot of that depends on your performance.

Learn more about research universities by reading about the best research universities in the US.

Often referred to as “teaching colleges” liberal arts colleges put a premium on undergraduate studies and offers a broad range of subjects for students to study. A college of liberal arts typically provides smaller class sizes, more direct engagement with professors, and, most importantly, the opportunity to sample a wide range of subject areas on the way to a bachelor’s degree.

Do you want your professors to know you? Liberal arts colleges strive to cultivate campus cultures that encourage tight bonds between professors and students.

Professors at these schools will typically conduct original research. Yet the best of these schools offer their faculty reduced teaching loads so that they can both be productive researchers and still have plenty of time for students (both in and outside the classroom).

Do you want to feel like you know everybody? One of the most enticing features of a liberal arts college is that in very little time, you can feel like you know who’s who, which can create strong friendships and make walks across campus more fun. While your sports teams may never be on ESPN, it’s more likely that you’ll know the athletes as your peers.

Beyond student and faculty relationships, it’s not unusual for the school president and other administrators to learn who you are. When faced with problems with your student account or the need to switch classes, this can be comforting during a stressful moment.

Learn more about liberal arts colleges by reading about the best liberal arts colleges in the US.

Online colleges are typically the same colleges and universities you could attend in-person, but for certain degree programs the college or unviersity has made the degree programs available to be completed online. For over 5 million students, online degree programs allow students to earn their degrees in the most flexible format available.

Online degrees are as respected as the on-campus degrees you could earn from the same schools. There’s usually no distinction between the two degrees, and your degree and transcript will not say that the degree was earned online.

Online degree programs are offered by a vast majority of colleges and universities, and the number of offering continues to grow. Whether you are searching for an associate, bachelor’s, master’s, or doctorate, there’s a good chance you can earn your degree online from a respectable online college.

Are you a self-driven student? Perhaps the hardest aspect of obtaining an online degree is whether you will be disciplined enough to manage your time and course demands.

Many online students report that online college made them more disciplined in all areas of their lives, but the flexible, self-paced learning that makes online colleges attractive can often be the same qualities that make it difficult. If you tend to be a procrastinator, you need to be honest with yourself. You can change your habits and propensities, or you can throw money down the drain.

Do you need the flexibility of an online degree program? Most online students study online because of time demands of balancing work and life, or because the online college affords them the chance to attend a better school without moving.

If you are serious about earning your degree for career advancement, online colleges make it possible. The most flexible options among online degrees are those that are asynchronous, meaning you don’t have scheduled times to meet with your class online. However, many students seek synchronous online degree programs so that they have some structure – set meeting times, scheduled exams, etc.

The good news is that attending an online college doesn’t mean you will miss out on getting to know your professors and classmates. In fact, many online students who have experienced both online and on-campus courses report having easier access to their professors.

Since most communication with your professor is expected to be in text – via email or your class learning management system – it makes asking your questions easier. The same students also report that they got to better know the thoughts of their classmates. While in-person course conversations can be dominated by a few extroverts, online courses that require online discussions make it so that you see all of your classmates’ thoughts and questions.

If you’re interested in an online bachelor’s degree, check out what the best online colleges offer, or search our online degrees for the exact program that interests you. In either case, you will find well respected colleges and universities that offer online degrees.

If you think a research university may be a better fit for you, see our ranking of the best research universities for a bachelor’s in economics.

Go to all Liberal Arts Colleges for Economics programs

The Best Economics Schools in Your State

Do you have a question about this topic? Ask it here

Best Liberal Arts Colleges for Economics Degree

Key Takeaways

Top 10 Liberal Arts Colleges Economics Programs in 2025

2025 Ranking Update

Featured Programs

What’s An Economics Degree Worth?

Significant Benefits of Studying Economics at Liberal Arts Colleges

You’ll have the best of both worlds

You learn from excellent professors

You can thoroughly prepare for your career

Best Liberal Arts Colleges for Economics Degree

Last Year’s Ranking:

Career Outlook for Economics degree at Wesleyan University

Most Influential Alumni

Wesleyan University Economics Major

Career Outlook for Economics degree at Amherst College

Most Influential Alumni

Amherst College Economics Major

Career Outlook for Economics degree at Swarthmore College

Most Influential Alumni

Swarthmore College Economics Major

Most Influential Alumni

West Point Economics Major

Career Outlook for Economics degree at Williams College

Most Influential Alumni

Williams College Economics Majors

Career Outlook for Economics degree at Smith College

Most Influential Alumni

Smith College Economics Majors

Career Outlook for Economics degree at Oberlin College

Most Influential Alumni

Oberlin College Economics Major

Career Outlook for Economics degree at Wellesley College

Most Influential Alumni

Wellesley College Economics Major

Career Outlook for Economics degree at Barnard College

Most Influential Alumni

Barnard College Economics Majors

Most Influential Alumni

United States Naval Academy Economics Majors

Career Outlook for Economics degree at Vassar College

Most Influential Alumni

Vassar College Economics Major

Career Outlook for Economics degree at Reed College

Most Influential Alumni

Reed College Economics Majors

Career Outlook for Economics degree at Haverford College

Most Influential Alumni

Haverford College Economics Majors

Career Outlook for Economics degree at Pomona College

Most Influential Alumni

Pomona College Economics Major

Career Outlook for Economics degree at Bowdoin College

Most Influential Alumni

Bowdoin College Economics Majors

Career Outlook for Economics degree at Middlebury College

Most Influential Alumni

Middlebury College Economics Major

Career Outlook for Economics degree at Colgate University

Most Influential Alumni

Colgate University Economics Majors

Most Influential Alumni

United States Air Force Academy Economics Major

Career Outlook for Economics degree at Carleton College

Most Influential Alumni

Carleton College Economics Major

Career Outlook for Economics degree at Kenyon College

Most Influential Alumni

Kenyon College Economics Major

Career Outlook for Economics degree at Colorado College

Most Influential Alumni

Colorado College Economics Majors

Career Outlook for Economics degree at Colby College

Most Influential Alumni

Colby College Economics Majors

Career Outlook for Economics degree at Davidson College

Most Influential Alumni

Davidson College Economics Major

Career Outlook for Economics degree at Bucknell University

Most Influential Alumni